Regions
TODAY’S DEALS: IPA Sells Newly Constructed L.A. Community for $133M
IPA completes the sale of a newly constructed 438-unit property in Los Angeles for $133 million; Tryko picks up a campus of age-restricted properties in West Philadelphia; and GFI sells a rent-stabilized building in Brooklyn for $5.15 million.
Housing Council Changes Name to Reflect Age Requirements
The Irvine-based 50+ Housing Council of the Building Industry Association of Southern California changes its name to accurately reflect its age requirement.
Work Begins on Affordable Seniors Housing in Gurnee
Gurnee, Ill.–Credit Capital L.L.C., together with partner Richman Group, have underwritten a $20.2 million private equity investment to construct an affordable seniors-housing complex.
TODAY’S DEALS: NorthMarq Capital Arranges $55M Mortgage
NorthMarq Capital supplies a $55M refinance mortgage for an upgraded property; Johnson Capital arranges $50M in financing secured by a 414-unit community in San Francisco; and Newcastle Limited purchases two Chicago properties for $9.1M.
MARKET SNAPSHOT: New York Experiences Decline in Transaction Volume; New Capital Comes to Market
New York–New York experienced a decline in transaction volume in May, according to Ariel Property Advisors’ Multifamily Month in Review.
HUD Awards $1.9B to Preserve Ailing Public Housing Stock
Washington, D.C.–HUD has awarded more than $1.9 billion to public housing authorities to make large-scale improvements to units very much in need of repair.
TODAY’S DEALS: Cornerstone Acquires $58.6M Mixed-Use Community
Cornerstone acquires a 163-unit mixed-use development in California; NorthMarq secures a $48M refi loan; and Boston Capital invests in the rehabilitation of an affordable housing community in Texas.
Preserving New Haven’s Past Is Goal of School Renovation
New Haven, Conn.–The historic Lovell School will soon enjoy a second life as an 18-unit apartment complex, thanks to a $1.5 million loan financing deal.
Flagler Expands Multifamily and Retail Offerings
Flagler Real Estate Services is expanding its multifamily and retail offerings with two strategic alliances, bringing in Auker Developments and DBR & Associates.
TODAY’S DEALS: Waterton Acquires 224-Unit Community in Florida
Waterton Residential acquires a 224-unit community in Florida; HFF closes the sale of and arranges financing for two assets outside Houston; and Phillips Development & Realty sells its interest in a 339-unit asset in Dallas.